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INDONESIA
ETIKONOMI
Published by Universitas Islam Negeri Syarif Hidayatullah Jakarta
ISSN : 14128969     EISSN : 24610771     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Etikonomi is a peer-reviewed journal on Economics, Business and Management by Faculty of Economic and Business State Islamic University (UIN) Syarif Hidayatullah Jakarta. FOCUS This journal focused on economics, business, and management studies and present developments through the publication of articles, research reports, and book reviews. SCOPE Etikonomi specializes on Economics, Business, and Management, and is intended to communicate original research and current issues on the subject. This journal warmly welcomes contributions from scholars of related disciplines.
Arjuna Subject : -
Articles 347 Documents
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Human Capital as a Catalyst for Income Convergence: Evidence from ASEAN-8 Countries Suprayitno, Aziz Wahyu; Gitaharie, Beta Yulianita
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.41571

Abstract

Research Originality: This study takes a novel approach to analyzing the impact of human capital on income convergence in ASEAN-8 countries by comparing three indicators. This comparative analysis provides a more comprehensive understanding of human capital dynamics in ASEAN's economic convergence.Research Objectives: This study investigates the impact of human capital on income convergence by applying the concept of β-convergence to the ASEAN-8 countries.Research Methods: The analysis of β-convergence is based on the basic and augmented Solow growth models. The estimation is conducted using static and dynamic panel data regression from 1995 to 2019.Empirical Result: The results reveal the existence of absolute and conditional β-convergence in ASEAN-8 countries, suggesting that poor countries grow faster than rich countries, with human capital playing a crucial role in this process. Human capital, measured by average years of schooling, tertiary gross enrolment ratio, and HCI, are important factors that significantly increase income convergence.Implications: ASEAN-8 governments need to establish policies that enhance human capital, particularly in education, by increasing educational attainment and the rate of return to education.JEL Classification: E24, O47, C13How to Cite:Suprayitno, A. W., & Gitaharie, B. Y. (2025). Human capital as a Catalyst for Income Convergence: Evidence from ASEAN-8 Countries. Etikonomi, 24(1), 265 – 284. https://doi.org/10.15408/etk.v24i1.41571.
The Determinants of Biodiesel Price in Indonesia Junejo, Safiullah; Wibert Victor Hasundungan, Herbert; Wicaksono, Teguh Yudo
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.37581

Abstract

Research Originality: Indonesia is one of the leading producers of biodiesel globally. Despite this progress, the country surprisingly still experiences significant volatility in biodiesel prices. This phenomenon raises a critical question about the factors driving these fluctuations, which the existing literature still does not address adequately.Research Objectives: This study delves into the dynamic relationships between biodiesel prices and various potential determinants.Research Methods: The Vector Autoregressive model was employed, given its robustness in capturing dynamic interdependencies between multiple time series. The analysis utilized monthly data spanning Jan. 2016 to Dec. 2022 collected from the Ministry of Energy and Mineral Resources, Indonesia.Empirical Results: The VAR analysis reveals the nuanced influences of these variables on biodiesel prices. It suggests that an increase in the prices of CPO, crude glycerine, catalyst, and PFAD positively affects biodiesel prices, while price shocks in gasoil and methanol inversely impact them.Implications: The findings highlight the necessity for a multi-factor approach to formulating pricing strategies. They inform policy decisions to foster price stability and drive the growth of the biodiesel sector.JEL Classification: Q2, Q3, Q4, P28How to Cite:Junejo, S., Wibert, J., Hasundungan, V., & Wicaksono, T. Y. (2025). The Determinants of Biodiesel Price in Indonesia. Etikonomi, 24(1), 155 – 174. https://doi.org/10.15408/etk.v24i1.37581.
Evaluating Asymmetric Impacts of Islamic Bank Financing on Employment In Indonesia Cahyono, Eko Fajar; Wan Ngah, Wan Azman Saini; Law, Siong Hok; Mazlan, Nur Syazwani; Ahmad, Mohd Naseem Niaz; Mohhammed, Azali
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.40139

Abstract

Research Originality: This research examines the asymmetric impact of Islamic bank financing on employment in IndonesiaResearch Objectives:. This research aims to test the nolinear impact (gn) of Islamic bank financing on employment in IndonesiaResearch Methods: This research utilizes secondary data from 2006 to 2022 and employs non-linear ARDL (Auto Regressive Distributive Lag) and Conditional ECM (Error Correction Model) analysis methodsEmpirical Results: In the short term, increases in Islamic bank financing significantly boost labor force participation (LFPR), while decreases have no significant effects. Long-term analysis shows positive changes continue to enhance LFPR, but negative changes do not impact GDP. The impact of financing on LFPR is symmetrical over time, indicating short-term asymmetries do not persistImplications: This research implies that the Indonesian government can boost the growth of Islamic bank financing to increase employment opportunities for the population both in the short and long term.JEL Classification: E24, G21,C32How to Cite:Cahyono, E. F., Ngah, W. A. S. W., Law, S. H., Mazlan, N. S., Ahmad, M. N. N., & Mohhamed, A. (2025). Evaluating Asymmetric Impacts of Islamic Bank Financing on Employment in Indonesia. Etikonomi, 24(1), 31 – 52. https://doi.org/10.15408/etk.v24i1.40139.
The Digital Revolution: Can Yogyakarta's Micro-Enterprises Ride the Wave? Fridayani, Helen Dian; Chiang, Li Chun; Mahendro, Aldryan Bagaskara; Agustin, Martalia Susantiana
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.37973

Abstract

Research Originality: This study enhances the comprehension of micro-enterprise owners who have transitioned to entrepreneurship by investigating their enhanced skills and flexibility in using digital technology.Research Objectives: This study examined the factors that influence technology adoption by business owners with experience in Microenterprises (MIEs). It also explored how digital technology's adoption mediates the relationship between these factors and the firm's performance.Research Methods: This study uses quantitative Path Analysis to examine the causal links between variables that impact the performance of micro-enterprises (MIEs) in Yogyakarta, Indonesia. A random sample of 461 MIE owners was selected.Empirical Results: The research found that micro-enterprises with organizational readiness and strategic orientation are more likely to use digital technology than those that do not adapt to or follow modern times. The cause was the high strategic orientation of Yogyakarta's MIEs.Implications: This study's empirical implication is to assess MIE development programmes in terms of digital technology usefulness within the context of business creation and technological transfer through MIEs in Yogyakarta.JEL Classification: C12, C31, O31How to Cite:Fridayani, H. D., Chiang, L. C., Mahendro, A. B., & Agustin, M. S. (2025). The Digital Revolution: Can Yogyakarta’s Micro Enterprise Ride the Wave. Etikonomi, 24(1), 191 – 204. https://doi.org/10.15408/etk.v24i1.37973.
The Role of Banking Credit and Innovation Technology in Deindustrialization in Indonesia Budiasih, Budiasih; Eliezer, Wisly Ryan
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.38755

Abstract

Research Originality: This study contributes to the literature by being the first to investigate the cause of deindustrialization from the production side, considering banking credit and innovation technology by Kaldor’s Second Law, specifically focusing on a regional level in Indonesia.Research Objectives: To investigate the impact of banking credit and innovation technology on deindustrialization on a regional level in Indonesia.Research Methods: This research uses using panel data model on 34 provinces from 2017-2022 and a Fixed Effect Model (FEM) with a Seemingly Unrelated Regression (SUR) method, incorporating other control variables was used. Share of bank credit to the manufacturing industry is used as a proxy for bank credit, while internet usage is used as a proxy for innovation technology.Empirical Results: The results showed that deindustrialization occurs in Indonesia even at the regional level. Banking credit and innovation technology are key factors driving the increase in GVA’s share of the manufacturing industry in Indonesia. Prioritizing the quality of workers and improving international trade could also effectively increase the GVA share of the manufacturing industry.Implications: This study offered valuable insights into designing and implementing capital policy strategies and equalizing internet access as an accelerator of innovation in the context of technology improvement to increase the manufacturing industry's GVA share.JEL Classification: O14, O11, R58How to Cite:Budiasih., & Eliezer, W. R. (2025). The Role of Banking Credit and Innovation Technology in Deindustrialization in Indonesia. Etikonomi, 24(1), 285 – 298. https://doi.org/10.15408/etk.v24i1.38755.
Intellectual Capital and Bank Profitability Nexus: Evidence From Gulf Cooperation Council Countries Osman, Zaroug; Yilmaz, Ilker
ETIKONOMI Vol. 24 No. 2 (2025)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i2.38708

Abstract

Research Originality:  This article presents novel and fresh empirical evidence on the relationship between intellectual capital and bank profitability and reports the results for the whole sample as well as at country breakdown. Research Objectives: Using a dataset of 60 banks from GCC countries between 2008 and 2022, the article investigates the association between intellectual capital and bank profitability by implementing M-VAIC. Research Methods: We developed two models in which profitability ratios are the dependent variables and the M-VAIC components are the independent variables and ran pooled OLS and panel regressions. Empirical Result: The study’s findings showed that while structural capital efficiency has a negative influence on bank profitability, other components have a positive impact on bank profitability. The signs and the significance levels at the country details do not show essential differences. Implications: The study’s results will have significant implications on how bank managers and policymakers invest and manage intellectual capital. The study offered an original contribution to the literature by presenting fresh empirical evidence from GCC countries for a reasonably long period. JEL Classification: E22, G21, O34, L25
The Role of Economic and Social Safety Nets in Extreme Poverty in Indonesia Setyadi, Sugeng; Indriyani, Lili; Widiastuti, Anita
ETIKONOMI Vol. 24 No. 2 (2025)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i2.38851

Abstract

Research Originality: This study focused on addressing the goal of reducing extreme poverty (EP) to 0% by 2024 in Indonesia, an objective that has been underexplored in global literature. Research Objectives: This study examined convergence in EP across Indonesia and analyzed the impact of economic as well as social variables on poverty reduction. Research Methods: Panel data from 34 Indonesian provinces (2017–2022) were analyzed using Generalized Method of Moments (GMM) and K-means Cluster analysis for regional classification. Empirical Result: The results showed that provinces in Indonesia were reducing EP at an annual rate of 1.19%, with a half-life of 1.6 years. This process signified that the country was on a path to achieve near-zero EP by 2024. Major socioeconomic drivers identified during the study included employment expansion and investments in education. Moreover, K-means Cluster analysis identified Cluster 1 (Central Sulawesi, North Maluku, Papua) with the highest EP rate of 1.52%, showing critical geographic disparities. Implications: The Government should adopt a multilevel strategic framework prioritizing regions with the highest poverty rates. Job creation and better access to education played a crucial role. Additionally, Indonesia's success could serve as a model for sustainable EP eradication in developing nations. JEL Classification: I32, P46, Q01
Examining Underpricing in Initial Public Offering: Deepening Insights on Non-Financial Information Rezky, Dikanio Muhammad; Mahri, A. Jajang W.; Utami, Suci Aprilliani
ETIKONOMI Vol. 24 No. 2 (2025)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i2.39355

Abstract

Research Originality: The nominal value variable from the prospectus in this study is the novelty, as no previous research has been found. Investors indicate the nominal value as a positive signal from the company to reduce existing information asymmetry. Research Objectives: This study examines the phenomenon of IPO underpricing on the Indonesia Stock Exchange, resulting in suboptimal IPO fund-raising. Research Method: Using a quantitative approach with descriptive and causality designs, the study analyzed 251 companies from 2017 to 2023 through multiple linear regression analysis. Empirical Results: Indonesia has a high IPO underpricing rate of 37.17%. Most IPOs (68.54%) were Shariah-compliant. The reputation of underwriters changed each year, and the free float ratio declined over time. On average, IPOs were oversubscribed by more than 28 times each year. Although COVID-19 affected market sentiment, it did not impact underpricing. The nominal value of IPO stocks varied each year but generally declined. Regression results show Shariah compliance and strong underwriters reduce underpricing, while higher free float, oversubscription, and nominal value increase it. Implications: The implications of this research theoretically support signaling theory and information asymmetry. Practically, this research can be a reference for further researchers, investors, companies, and the government as regulators. JEL Classification: G10, G24, G32, D82
Exploring the Regional Multidimensional Poverty Pattern in Indonesia: Does Climate Matter? Pratiwi, Ira Eka; Joshi, Niraj Prakash
ETIKONOMI Vol. 24 No. 2 (2025)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i2.39523

Abstract

Research originality: This study develops a comprehensive regional measure of poverty using the capability approach to understand the pattern of multidimensional poverty in Indonesia. Research objectives: This study has two objectives: first, to construct and examine multidimensional poverty levels in 33 Indonesian provinces from 2010 to 2020; and second, to investigate the association between climate variables and the Multidimensional Poverty Index (MPI). Research methods: The MPI is measured through equal weighting of 20 indicators. A pooled ordinary least squares regression was used to study the relationship between the climate variables and MPI. Empirical result: The findings indicate that most provinces have experienced a decrease in poverty over the past decade. However, significant inequality persists among provinces, particularly in the eastern regions of Indonesia. Further analysis reveals that temperatures exceeding 25.25 °C may lead to an increase in the MPI, while precipitation exceeding 9.5 mm/day is associated with a decrease in the MPI. Implications: This study underscores the importance of incorporating climate change concerns, specifically increasing temperatures and unpredictable precipitation, into poverty reduction strategies and highlights the need for region-specific policies to address the multifaceted nature of poverty in Indonesia effectively. JEL Classification: I32, O10, Q54
Risk, Liquidity, and Performance: Evidence from the Commercial Banks in Bangladesh Bhowmik, Probir Kumar; Islam, Ariful
ETIKONOMI Vol. 24 No. 2 (2025)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i2.39787

Abstract

Research Originality: This study examines the interplay between bank risk, liquidity, and profitability in Bangladesh's banking sector. Using a fresh approach, it shows their combined impact on stability and growth in emerging markets. It provides practical insights for banks to effectively manage these factors and achieve long-term resilience. Research Objectives: The study aims to investigate the interconnected influence of non-performing loan ratios and liquidity levels on profitability, and to analyze the effects of total asset growth, loan growth, and cost-to-income ratios on these dynamics. Research Methods: The study used a panel dataset of 31 listed commercial banks from 2012 to 2022. Ordinary Least Squares (OLS) regression was primarily employed, followed by Prais–Winsten regression with corrected standard errors (PCSEs) for correlated panels to validate the findings. Empirical Result: The research indicates that liquidity (LIQ) has a positive impact on profitability, with the net interest margin (NIM) being significantly influenced by non-performing loans. The control variable, SIZE, also showed statistical significance in performance. Implications: This study highlights the significance of asset quality, liquidity management, loan composition, and operational efficiency in determining bank profitability, providing valuable insights for bank managers and policymakers in emerging economies seeking to enhance their financial performance. JEL Classification: C33, G21, G32, C58

Page 33 of 35 | Total Record : 347

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